UNOFFICIAL COPY AS OF 01/01/1905 REG. SESS.05 RS SB 111/EN

AN ACT relating to deeds and conveyances.

Be it enacted by the General Assembly of the Commonwealth of Kentucky:

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SB011120.100-1128ENROLLED

UNOFFICIAL COPY AS OF 01/01/1905 REG. SESS.05 RS SB 111/EN

Section 1. KRS 382.135 is amended to read as follows:

(1)In addition to any other requirement imposed by law, a deed to real property shall contain the following:

(a)The mailing addresses of the grantor and grantee;

(b)A statement of the full consideration; and

(c)In the case of a transfer other than by gift, or with nominal or no consideration a sworn, notarized certificate signed by the grantor or his agent and the grantee or his agent, or the parent or guardian of a person under eighteen (18) years old, that the consideration reflected in the deed is the full consideration paid for the property; or

(d)In the case of a transfer either by gift or with nominal or no consideration, a sworn, notarized certificate signed by the grantor or his agent and the grantee or his agent, or the parent or guardian of a person under eighteen (18) years old, stating that the transfer is by gift and setting forth the estimated fair cash value of the property.

(2)The deed filing requirements listed in subsection (1)(b) and (c) of this section shall not apply to:

(a)Deeds which only convey utility easements;

(b)Deeds which transfer property through a court action pursuant to a divorce proceeding;

(c)Deeds which convey rights-of-way that involve governmental agencies;

(d)Deeds which convey cemetery lots;[ and]

(e)Deeds which correct errors in previous deeds conveying the same property from the same grantor to the same grantee; or

(f)Deeds which convey real property to a local airport board.

(3)In the case of an exchange of properties, the fair cash value of the property being exchanged shall be stated in the body of the deed.

(4)In the event of a transfer of property by will or under the laws of intestate succession, the personal representative of the estate, prior to closing out the estate, shall file an affidavit with the county clerk of each county in which any of the property is located, which shall contain the following:

(a)The names and addresses of the persons receiving each property passing by will or intestate succession; and

(b)The full or fair market value of each property as estimated or established for any purpose in the handling of the estate, or a statement that no such values were estimated or established.

(5)No county clerk or deputy clerk shall lodge for record, and no county clerk or deputy shall receive and permit to be lodged for record, any deed that does not comply with the provisions of this section.

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